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Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
 KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or any other place for more than 28 days and therefore vessel’s speed, due to bottom fouling which may have formed to the ship’s hull as a direct result of such prolonged stay, is reduced and/or consumption increased. In case of need for underwater cleaning same to be for Charterer’s account in terms of time and expenses.”
Under the first charter, Owners contended that as a result of the high temperature of the sea water at the loadport, where the vessel had stayed for 48 days, the hull, propeller and rudder were fouled. An underwater inspection at the discharge port confirmed this. Owners informed Charterers that the fouling was due to the vessel’s prolonged stay at the loadport, for which Charterers should be held responsible.
Subsequently, the second charter was concluded in substantially the same terms as the first. No underwater cleaning was carried out between redelivery under the first charter and simultaneous redelivery into the second charter.
Owners claimed a balance of hire under both charters, plus sums in lieu of hold cleaning on redelivery under each charter and stevedore damage incurred during discharge under the second charter. Charterers argued that they were entitled to make deductions under both charters for under-performance and overconsumption.
The Tribunal found that bottom fouling did occur during the prolonged stay at the loadport under the first charter, and that this affected the vessel’s speed and consumption. This was supported by the fact that the vessel performed in accordance with the charter warranties on her voyage to that loadport. Under clause 128(1), Owners had no responsibility for the vessel’s failure to make her speed and consumption warranties, and so Charterers’ underperformance claim in respect of the first voyage failed.
As regards the second charter, Owners argued that Charterers had taken the vessel in direct continuation of the first charter, and thereby did not allow the hull to be cleaned after the vessel’s prolonged stay at the first loadport. Owners submitted that Charterers were estopped by their actions from claiming under-performance in respect of the second voyage.
The Tribunal rejected this argument. Owners were aware of the likelihood of hull fouling when the second charter was concluded, and had already written to Charterers in protest. Despite this, they fixed the vessel on identical terms. Owners therefore took the risk that the vessel may not be able to make her speed and performance warranties due to the hull fouling which occurred under the first charter. There was nothing in Charterers’ conduct to found an estoppel. They agreed the fixture on terms acceptable to Owners and took delivery of the vessel. Owners had to stand by the warranties they had given, and pay damages for any proven breach.
Charterers’ claim for under-performance under the second charter therefore succeeded, although the Tribunal reduced the amount to be deducted to take into account commission. Only part of the deduction for overconsumption was allowed, as some of the deductions made by Charterers in respect of the second voyage in fact related to underperformance and overconsumption the first voyage. Those claims failed for the same reason as the claims under the first charter.
Source: Reed Smith
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Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
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- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
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